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PPP Forgiveness: What To Do If You Got A Paycheck Protection Program Loan & Your Employees Won’t Come Back
US small businesses and their workers are in a really tough spot right now. While some businesses are legally allowed to reopen, employees are feeling uncertain about returning to work. Complicating the situation even further, businesses who recently received a Paycheck Protection Program (PPP) loan are now calling workers back. These businesses are required to spend the federal loan proceeds on payroll in order for the loan to be forgiven—but in some cases, the workers do not want to return, often because they are making more money on unemployment benefits.
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The Second Round Of Paycheck Protection Program (PPP) Funding Has Been Announced [UPDATE: It’s Passed]
Small business owners and the self-employed have faced particular challenges and frustrations, as many were unable to get a PPP Loan during the last round of funding despite applying as soon as the funds became available. The good news is that on April 21, 2020, the US Senate passed a bill authorizing the addition of $310 billion to the Paycheck Protection Program (PPP), which offers forgivable loans to businesses affected by the devastating COVID-19 outbreak. Just know that once it’s signed into law, it might be another day or so before the SBA can reopen the program to new applicants.
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The Small Business Guide To Professional Liability (Or Errors & Omissions) Insurance
We all make mistakes, and when we do, you may be liable for the effects of those errors if you gave the advice in a professional setting or hurt someone while providing your service. Professional liability insurance protects your business from lawsuits that claim you gave bad advice or made a mistake.
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What’s The Difference Between Chip-And-PIN & Chip-And-Signature Cards?
The EMV liability shift is well underway and customers have started dipping those cards. At this point, most small business owners are probably wondering why the heck everybody is talking about chip-and-PIN cards when everybody seems to be using chip-and-signature. What’s the difference between chip-and-PIN and chip-and-signature cards? Table of ContentsBack Up a Minute.That Sounds […]
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IRS Announces New ERC Claim Withdraw Policy: What It Means For ERC Filers
If it’s too late for you to withdraw your ERC request, but you know that the request is invalid and that you weren’t actually eligible for the employee retention credit, you may be faced with filing error penalties and/or held responsible for repaying the employee retention credit.
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ERC Ghost Preparers: What Are They & How To Keep Your Business From Getting Spooked
The goal of a ghost preparer is to take advantage of taxpayers by taking a large fee or directing the taxpayers return to their own bank account or mailing address without the taxpayer’s knowledge — and then disappear without a trace to secure their fraudulent money can be tracked.
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The Best Collection Agency Merchant Services Providers In 2024
To start a collection agency, you’ll need a robust suite of hardware and services to accept payments online and over the phone. Whether you’re building your agency from the ground up or already have a business that needs to switch to a better merchant account provider, your agency’s success depends on multi-channel payment support, systems to combat fraudulent chargebacks, and transparent pricing plans and contractual requirements.
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COVID Relief: Can My Small Business Get Multiple EIDL Loans?
Can your small business get multiple EIDL loans? Can you increase your EIDL size? Find out if it’s possible to get more relief funding from the EIDL program.
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Don’t Want (Or Were Denied) An EIDL Or PPP Loan? Here Are Your Best Small Business Loan Alternatives
The PPP and EIDL programs have distributed a massive amount of funding to struggling businesses in the wake of the coronavirus pandemic. However, many businesses have been unable to secure funding from these programs despite applying when directed and meeting all the relevant qualifications. Whatever the reason, there are business owners out there in need of funding that have not been served by the PPP or EIDL programs. That’s why we’ve set out to highlight other lending options — both public and private — that are currently available to small businesses.
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